Four Best Practices of A/R Automation That Cut Costs

My family has a clear, giant flower vase—I’m talking 2 feet high—that sits in the corner of the dining room. Every day, family members put any spare change we accumulate into the vase rather than bury it in dresser drawers or lose it. These quarters, dimes, nickels and pennies are both valuable and somewhat of… Read more »

Three Ways Your Credit Program Can Give You a Competitive Advantage

Your products, pricing, and customer relationships are likely the cornerstones of how you attract and keep your customers. But have you ever considered how your credit program could provide you with a strong competitive advantage? If you are like many companies, your credit program probably doesn’t make you think about growth and competitive advantage. In… Read more »

Protect Yourself From the Four Most Disruptive Credit Risks

Underestimating credit risk can turn a healthy business upside down quickly, so there’s a lot riding on your ability to minimize your exposure. When it comes to assessing risk, looks can be deceiving. You’ve heard stories of customers who looked big and sounded solid but ended up being insolvent—causing a nightmare for the companies left… Read more »

What is the True Cost of a Customer?

You May Be Surprised That Some Actually Cost You Money Most dealers precisely know their gross margins on a per-customer basis. Assume you’re a business with 40% gross profit margin. Of those 40 points, 25 are usually consumed by overhead, leaving you with a 15% net margin.  Some dealers are higher, some lower. Very few… Read more »